Starbucks added a net 526 stores during the quarter, but comparable store sales declined 3%, driven by a 5% decrease in comparable transactions, partially offset by a 2% increase in average ticket.

International revenues decreased by $130.8 million, or 7%, due to unfavorable foreign currency translation and a 7% decline in comparable store sales driven by a decline in both average ticket and comparable transactions.

Channel Development revenues decreased by $10.5 million, or 2%, primarily due to a decline in revenue in the Global Coffee Alliance following the sale of the Seattle’s Best Coffee brand to Nestle.

Management noted progress on action plans to drive traffic and realize efficiencies which partially offset the impact of broader headwinds.

Management cited strategic pricing and in-store operational efficiencies as factors that helped to offset some of the margin pressure.

Management indicates a focus on introducing innovative offerings and expanding efficiency efforts, as well as disciplined operational execution.

The filing states that there have been no material changes to the risk factors disclosed in the company's 10-K.

A 3% decline in comparable store sales, driven by a 5% decrease in comparable transactions, suggests the company may be facing competitive pressure or a shift in consumer behavior.

Product and distribution costs as a percentage of total revenue decreased due to a reduction in supply chain costs.

Management cited in-store operational efficiencies as a factor that helped to offset some of the margin pressure.

The company is making incremental investments in technology in support of its Reinvention plan.

The company repurchased 12.8 million shares of common stock for $1,250.1 million during the three quarters ended June 30, 2024.

The Board of Directors approved a quarterly cash dividend of $0.57 per share.

The filing does not explicitly detail any new or ongoing ESG initiatives.

The company noted continued broader headwinds in a challenging global operating environment, including softening consumer sentiment, a pervasive inflationary environment, and disruptions due to multiple international conflicts.

The company's results were impacted by unfavorable foreign currency fluctuations.